|Bid||171.82 x 1400|
|Ask||171.91 x 800|
|Day's Range||169.66 - 173.67|
|52 Week Range||150.94 - 266.67|
|Beta (3Y Monthly)||1.84|
|PE Ratio (TTM)||9.38|
|Earnings Date||Mar 19, 2018 - Mar 23, 2018|
|Forward Dividend & Yield||2.60 (1.43%)|
|1y Target Est||221.40|
FedEx missed analysts' estimates for quarterly profit. It also cut its full-year earnings per share forecast for the second time, citing weaker global trade growth.
FedEx shares moved sharply lower during Wednesday's session on lower-than-expected third quarter earnings and surprising guidance.
Shares of FedEx Corp. (FDX) tumbled 5.71% to $171.06 in after-hours trading on Tuesday following the release of the results for the third quarter of fiscal 2019. The Memphis, Tennessee-based international provider of integrated shipping and logistics services missed consensus estimates by 7 cents on non-GAAP earnings, having posted $3.03 per diluted share, which was 18.5% lower than the prior-year quarter. Warning! GuruFocus has detected 7 Warning Signs with FNV.
Unlike the rest of the market, shares of FedEx have done a really poor job of climbing off the fourth-quarter lows. After its previous earnings report in December, FedEx stock also took a tumble. Last quarter, FDX stock was hammered after beating estimates but slashing guidance.
Check out the companies making headlines midday Wednesday:FedEx FDX — Shares of FedEx dropped 5.14 percent after the company reported lower-than-expected third-quarter earnings and reduced its earnings outlook for fiscal year 2019.
NEW YORK (AP) — U.S. stocks fell broadly in midday trading on Wall Street Wednesday ahead of the latest interest rate policy decision by the Federal Reserve.
FedEx should be considered a bellwether for the global economy, but it seems that investors only focus on the company once every three months, which is regrettable in light of the intense investor focus on the FAANG tech titans. Since our last earnings call, we have seen the overall China economy slow down further, and this has impacted other Asian economies.
FedEx cut its financial forecasts again, blaming a weak macroeconomic environment and a slowdown in China. A deal on U.S.-China trade would ease pressure on the world’s second largest economy, benefiting both FedEx and a broad range of other companies that do business there.
U.S. stocks fell on Wednesday after economic bellwether FedEx Corp's downbeat profit outlook raised concerns about global growth, while investors waited for more clarity on the Federal Reserve's interest rate forecasts for the rest of the year. The policy statement will also shed light on long-awaited details regarding the Fed's plans to stop reducing its holdings of Treasury bonds. "With the Fed, investors will be focusing on the growth outlook for 2019.
BMW executives said the industry faces a fiercely competitive environment, dogged by questions about how tariffs and trade tension between the U.S., China and Europe could affect supply chains, manufacturing and sales.
Stocks fall Wednesday after President Donald Trump says the China trade tariffs could go on for a long time.
Alphabet, FedEx, Jerome Powell and Disney-Fox are just some of the things that JIm Cramer's watching Wednesday.
Investors have questions about how long they have to wait to get there. FedEx, which is often regarded as an economic bellwether, set off alarm bells across industries in December when it lowered its guidance and declared that the peak for global growth was behind us. FedEx spent $4.4 billion in 2016 to acquire Dutch delivery company TNT Express NV.
Overseas demand is softening amid U.S.-China trade tensions and uncertainty over the U.K.’s exit from the European Union, FedEx said as it reported earnings. The rising hurdles at home and abroad are piling on pressure as FedEx Chief Executive Officer Fred Smith works through a surprise management revamp. Chief Operating Officer Raj Subramaniam last month replaced David Bronczek, who also stepped down as a director just weeks after joining the board.
U.S. Treasury yields fell modestly on Wednesday as the Federal Reserve, which is winding up a two-day policy meeting, was expected to hold interest rates steady, trim the number of hikes projected for the rest of the year, and release details of a plan to end the monthly reduction of its massive balance sheet. The probability the Fed will keep rates at the current 225-250 basis-point level was 98.7 percent on Wednesday, according to CME Group's FedWatch tool. Weak data published this month, including February jobs data that drastically missed expectations, has supported the Fed's pause in rate hikes.
Foot Locker, Urban Outfitters, FedEx and United Parcel highlighted as Zacks Bull and Bear of the Day
U.S. stocks fell on Wednesday after economic bellwether FedEx issued a downbeat profit outlook and as investors waited for more clarity on the Federal Reserve's interest rate forecasts for the rest of the year. The policy statement will also shed light on long-awaited details regarding the Fed's plans to stop reducing its holdings of Treasury bonds. Hopes of a dovish stance from the Fed hit the rate-sensitive financial stocks, which fell 0.35 percent, while the bank subsector slipped 0.28 percent.
The Dow Jones industrials fell about 100 points in early trade Wednesday ahead of the Fed policy decision. Tencent Music Entertainment sold off.